Female entrepreneurs could give the UK economy a much needed boost, creating 360,000 jobs in the next 12 months, according to a new report.
The research found that one in five (22%) female business owners plan to hire more staff in the coming year, with 8% intending to hire one new employee, another 8% intending to hire two to five employees and 6% intending to hire more than six employees.
The survey by Intuit, the financial management software specialists, also revealed a strong entrepreneurial appetite from women who are not yet running their own business. Almost half (49%) of all women surveyed expressed interestin setting up a business in the future, and a further 23% of prospective female business owners said they are planning to launch their new venture in the next year.
Pernille Bruun-Jensen, managing director, Intuit UK said:
“If there was ever a time to bring the ‘she-economy’ to the UK, now is it. With so many women wanting to be their own boss and fit work around their busy lives, there is an army of would-be entrepreneurs out there who could help drive the UK economic recovery.”
The top motivations for women to set up a business were flexible working hours (57%), being their own boss (48%) and working from home (45%).
Looking ahead, nearly half of female entrepreneurs think there is no ideal time in life to start up a business.
Samantha Mayne , founder of TriAdventure, an adventure based events company, said: “We have ambitious plans to grow the company in the next 3 to 5 years, and I hope to hire someone else in the next couple of years. There’s no right or wrong time to start a business, as long as you’ve got a great business idea and the motivation to make it work, I’d say to go for it!”